XRP showing signs of a return to postive 200 period Simple Moving Average.
This leads us to believe that we will see a new positive trend, not a 'bull run', but a steady move back toward the $0.50 range, for the first time in several months.
We agree that this may not be a price ceiling but a considerable area to take profits from a long trade.
#XLM #NEO #ADA...
A long squeeze on intra day trading patterns as price is held back by a counter trend line in the current trading range. A movement above this will give way to the outer counter trend line, whereby a break would lead to a push for market structure and the 1.618 fibonacci extension. Strong supporting trendline with 4 previous confirmed bounces.
Unfortunately, because of lacking experience of XRP investors panic selling cause a 50>% drop in XRP over the past week.
Now that this correction has ended, exchanges are buying large amounts of XRP in order to full profits and potentially adding XRP to their roster.
I expect that in the next 1-2 weeks significant volume will flood XRP again and carry it...
A strange point for the XRP crypto, if things do not hold out around the .5-1$ region, we will likely see sideways markets for a long time, or a collapse.
Lets use this chart as a milestone, see you in a few years!
Good luck with your trading!